Traders Buy American Express Co. (AXP) on Weakness
Investors purchased shares of American Express Co. (NYSE:AXP) on weakness during trading on Tuesday. $49.56 million flowed into the stock on the tick-up and $31.69 million flowed out of the stock on the tick-down, for a money net flow of $17.87 million into the stock. Of all stocks tracked, American Express had the 24th highest net in-flow for the day. American Express traded down ($0.07) for the day and closed at $65.45
Several equities research analysts have recently commented on the stock. Citigroup Inc. restated a “buy” rating and issued a $70.00 target price on shares of American Express in a research note on Tuesday, May 17th. William Blair restated an “outperform” rating on shares of American Express in a research note on Thursday, July 21st. Deutsche Bank AG restated a “hold” rating on shares of American Express in a research note on Wednesday, June 15th. Goldman Sachs Group Inc. restated a “neutral” rating and issued a $67.00 target price (up previously from $62.00) on shares of American Express in a research note on Tuesday, June 7th. Finally, JPMorgan Chase & Co. restated a “neutral” rating on shares of American Express in a research note on Sunday, July 24th. Six analysts have rated the stock with a sell rating, twenty have assigned a hold rating and nine have issued a buy rating to the company’s stock. American Express has an average rating of “Hold” and an average price target of $70.40.
The company’s 50 day moving average is $64.69 and its 200-day moving average is $62.35. The company has a market capitalization of $60.46 billion and a P/E ratio of 11.58.
American Express (NYSE:AXP) last issued its earnings results on Wednesday, July 20th. The payment services company reported $2.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.95 by $0.15. During the same quarter in the previous year, the firm posted $1.42 earnings per share. The business earned $8.20 billion during the quarter, compared to the consensus estimate of $8.33 billion. The company’s revenue for the quarter was down .6% compared to the same quarter last year. On average, analysts forecast that American Express Co. will post $5.50 earnings per share for the current year.
Other large investors have modified their holdings of the company. Autus Asset Management LLC acquired a new stake in shares of American Express during the fourth quarter worth $1,121,000. Stephens Inc. AR increased its stake in shares of American Express by 10.5% in the fourth quarter. Stephens Inc. AR now owns 51,675 shares of the payment services company’s stock worth $3,594,000 after buying an additional 4,924 shares during the last quarter. American International Group Inc. increased its stake in shares of American Express by 2.6% in the fourth quarter. American International Group Inc. now owns 379,408 shares of the payment services company’s stock worth $26,387,000 after buying an additional 9,560 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of American Express by 3.8% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 2,370,987 shares of the payment services company’s stock worth $164,903,000 after buying an additional 86,986 shares during the last quarter.
American Express Company is a services company. The Company’s principal products and services are charge and credit payment card products, and travel-related services offered to consumers and businesses around the world. The Company’s segments include U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).
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